According to a report by HelpAge India, India is home to over 80 million elderly. The figure is expected to increase to 177 million by 2025. Around 89 per cent of the people over the age of 60 are not covered under any post-retirement economic security schemes, according to "old age social and income security", a project commissioned by the Indian government in 2000.

"Arguably, this is the next market that investment companies are looking to tap. Various investment plans for those above sixty years are availably in the market currently with the most popular being fixed deposits (FDs) which give them one to one and half per cent extra rate of return. Post office savings, Unit Linked plans and reverse mortgage are others specially designed for senior citizens," says a market expert who did not want to be named.

"'Without cover retirement plans' are also popular as it gives a regular income as pensions. The Insurance Regulatory and Development Authority (IRDA) is also planning bring out new regulations under which senior citizens can hope to get health cover even after the age of 65," he adds.

Investing for long term profit gains are not the sole channel for these veterans who are also finding themselves fit enough to begin a second career in the field of their expertise.

"I find myself fit for an eight hour job. I don't think there should be an age limit for retirement. Why politicians have the privilege of serving the nation for an unlimited period. I have applied for a job through a website and waiting for the call. Experience always matters and I am fit enough, says 62 year old Prakash Chawla, a retired mechanical engineer.

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